Sempra’s $10 Billion Stake Sale Guided By Three Big Law Firms

Sullivan & Cromwell is advising Sempra as it sells a 45% equity stake in its infrastructure arm to KKR and Canada Pension Plan Investment Board for $10 billion.

Two other leading deals forms are also involved in the deal: Simpson Thacher & Bartlett is guiding KKR and Kirkland & Ellis is representing CPP Investments.

The transaction is the latest in a series of large sponsor-led infrastructure deals this year. Those include a group of investors led by Brookfield Infrastructure Partners acquiring Colonial Enterprises Inc.—a transaction that values the biggest US fuel pipeline operator at about $9 billion—and Woodside Energy Group ...